Eurazeo and Arax Properties sign an agreement to acquire the Trinity Trading Estate in the south east of England

Eurazeo

Paris, September 10th 2021

The Real Estate team of Eurazeo, with its partner Arax Properties, has reached an agreement with Orchard Street for the acquisition of the Trinity Trading Estate (“the Estate”), a multi-let trading complex located South East of London and totaling 410,000 sq ft (38,000 sqm).
The asset is strategically located in Sittingbourne, between London and the Euro Tunnel, an established and thriving commercial location in Kent with best-in-class connectivity.

This 98%-leased Estate is generating day-1 income with a strong rental reversion potential. Together with its partner Arax Properties, the Real Estate division will invest to modernize the asset and develop additional units in order to further increase density and capture the Estate’s full rental potential.
In the wake of the acquisition of two office buildings in London, the Trinity Trading Estate allows Eurazeo to increase its footprint in the UK and enter the industrial and logistics market. Eurazeo equity commitment amounts to around €27 million.
Renaud Haberkorn, Managing Partner of Eurazeo, Head of the Real Assets division, said:
« We have identified various levers to create additional value within this multi-let industrial park, in particular densifying the estate and renovating significantly existing units. This first “value-add” acquisition in the UK industrial and logistics market will set the first stone of a portfolio aggregation strategy and reflects our conviction in a growing market that has experienced a structural shift accelerated by Covid-19 pandemic. »

Riccardo Abello, Managing Director, Real Estate, added:
« Thanks to its existing diverse tenant base generating income from day 1 and high historical occupancy, the Trinity Trading Estate offers downside protection as well as numerous asset management initiatives. »

Giles Morse, Partner of Arax Properties, said:
« Arax Properties is delighted to be undertaking another investment with our partners Eurazeo. Arax Properties has built a best-in-class industrial and logistics team and looks forward to expanding its exposure to the sector across the UK. »

ABOUT EURAZEO
• Eurazeo is a leading global investment group, with a diversified portfolio of €25.6.7 billion in assets under management, including €17.8. billion from third parties, invested in 450 companies. With its considerable private equity, private debt, real estate and infrastructure expertise, Eurazeo accompanies companies of all sizes, supporting their development through the commitment of its nearly 300 professionals and by offering deep sector expertise, a gateway to global markets, and a responsible and stable foothold for transformational growth. Its solid institutional and family shareholder base, robust financial structure free of structural debt, and flexible investment horizon enable Eurazeo to support its companies over the long term.
• Eurazeo has offices in Paris, New York, Sao Paulo, Seoul, Shanghai, Singapore, London, Luxembourg, Frankfurt, Berlin and Madrid.
• Eurazeo is listed on Euronext Paris.
• ISIN: FR0000121121 – Bloomberg: RF FP – Reuters: EURA.PA

 

EURAZEO CONTACT
Virginie Christnacht
HEAD OF COMMUNICATIONS vchristnacht@eurazeo.com
+33 (0)1 44 15 76 44
Pierre Bernardin
HEAD OF INVESTOR RELATIONS pbernardin@eurazeo.com
+33 (0)1 44 15 16 76
PRESS CONTACT
DAVID STURKEN
MAITLAND/AMO dsturken@maitland.co.uk
+44 (0)7990 595 913

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EQT Exeter Europe Logistics Value Fund IV closes at EUR 2.1 billion hard cap – fortifies commitment to logistics value-add investments across Europe

eqt
  • EQT Exeter Europe Logistics Value Fund IV closes at EUR 2.1 billion hard cap following strong support from existing and new international blue-chip investors
  • EQT Exeter Europe Logistics Value Fund IV will pursue a value-add strategy to acquire, develop, redevelop, lease, operate, and sell supply chain and e-commerce focused big box warehouse, last mile and light industrial properties serving major markets throughout Europe
  • The Fund is the first vehicle to close after the combination of EQT’s real estate business and Exeter Property Group, which was completed in April 2021

EQT is pleased to announce that the EQT Exeter Europe Logistics Value Fund IV (the “Fund”) has held its final close at its hard cap of EUR 2.1 billion in fee-paying assets under management. Demand from both existing and new investors was exceptional resulting in the Fund being significantly oversubscribed with commitments coming from a diversified group of high-quality investors across North America, Europe, Asia and the Middle East.

The Fund will pursue a value-add strategy to acquire, develop, redevelop, lease, operate and sell supply chain and e-commerce focused big box warehouse, last mile and light industrial properties serving major markets throughout Europe. EQT Exeter has employed similar value-add strategies throughout its series of US and European logistics value-add funds which have significantly outperformed the market. The senior management team of EQT Exeter focused on logistics has worked together for over 17 years, averages 22+ years of experience in the real estate industry and has demonstrated its ability to manage the full value chain of logistics real estate investments across numerous markets and through multiple growth, income, recessionary and recovery real estate market cycles.

The Fund benefits from EQT Exeter’s “local with locals” approach with 40 global offices (14 in Europe) and its vertically integrated team of 260+ real estate professionals (60+ in Europe) with deep expertise in acquisitions, dispositions, development, construction, leasing, asset and property management, finance, legal, compliance and accounting. EQT Exeter’s local presence enables a targeted selection of submarkets and properties, favorable cost basis due to one-off, small deal sourcing, and full ownership/control of assets. Furthermore, with over 1,200 global tenant relationships, the Fund will capitalize on EQT Exeter’s “tenant-centric” philosophy whereby customer demand, discussions with corporate executives and up-to-the-minute information from corporate heads of real estate and their tenant broker representatives will strongly influence the Fund’s investment and property operating decisions. Knowledge gained through EQT Exeter’s presence in the field and frequent communication with tenants is expected to allow the Fund to offer properties which provide the functionality and location that tenants most desire.

Ward Fitzgerald, Partner and Head of EQT Exeter, commented, “I would like to thank our repeat and new investors for their support of the latest flagship vehicle in EQT Exeter’s European logistics value-add fund series. The successful fundraise of EQT Exeter Europe Logistics Value Fund IV validates our proven 15+ year track record of value creation due to our locals with locals vertically integrated operating model. We look forward to working with our new colleagues at EQT to continue to outperform and provide strong returns to the Fund’s investors.”

Paul Rubincam, Partner and Co-Head of the EQT Exeter Europe Advisory Team, commented, “We are confident that given the strong pipeline and the team’s ability to utilize its leasing, tenant relationship, development and asset management skills to effectuate value-add outcomes, we will successfully advise on the deployment the Fund’s capital and delivery of its superior performance.”

Lennart Blecher, Head of Real Assets’ Advisory Teams, Deputy Managing Partner and Chairperson of EQT Exeter, commented, “The closing of the Fund marks an important milestone following the completion of the combination of EQT’s real estate business and Exeter. This represents not only a great fundraising by Ward and the Exeter team but also a concrete contribution to the scaling of our real estate platform which is a crucial part of EQT AB’s global growth strategy. EQT Exeter will be working closely together with the entire EQT platform across Europe and the Fund will be able to capitalize on thematic real estate investment opportunities in the market.”

EQT Exeter Europe Logistics Value Fund IV is backed by a highly regarded, international investor base including public and corporate pension funds, sovereign wealth funds, insurance companies, global asset management firms, commercial banks, endowments, foundations and family offices.

Contact
EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

About EQT
EQT is a purpose-driven global investment organization with more than EUR 67 billion in assets under management across 26 active funds. EQT funds have portfolio companies in Europe, Asia-Pacific and the Americas with total sales of approximately EUR 29 billion and more than 175,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More info: www.eqtgroup.com
Follow EQT on LinkedIn, Twitter, YouTube and Instagram

About EQT Exeter
EQT Exeter was created through the combination of EQT’s real estate business and Exeter Property Group in 2021. EQT Exeter is among the largest real estate investment managers in the world, focused on acquiring, developing and managing logistics/industrial, office, life science and residential properties. EQT Exeter applies a thematic investment strategy and value-creation approach.  With almost 40 regional offices and 260+ professionals across the Americas, Europe and Asia, EQT Exeter combines local execution with global scope to deliver superior real estate solutions to tenants while providing investors with some of the industry’s leading and most consistent returns across value-add and core-plus strategies.

More info: www.exeterpg.com

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Ardian closes first real estate investment in Spain, through the acquisition of an office building in Madrid

16 July 2021 Real Estate Spain, Madrid

The building offers around 10,000 m2 of rental space and over 150 parking spaces and is currently occupied by a single institutional tenant.
This marks Ardian Real Estate’s first deal in Spain, and aligns with the Group’s strategic focus on value creation

Madrid, July 15 2021 – Ardian, a world-leading private investment house, has closed its first real estate investment in Spain, with the off-market acquisition of an office building in Madrid. The property is located near AZCA, Madrid’s main financial district, which benefits from excellent commuter links and it currently houses the Spanish HQs of a number of multinational companies, including EY, Deloitte, Google and Accenture.

This office building, constructed in 1992, consists of around 10,000 sqm of rental space and includes more than 150 parking spaces. The property is fully occupied by a single tenant. The building features high ceilings, and benefits from plenty of natural light in office areas, as well as ample exterior space. These factors are increasingly important for attracting occupants. The team will work with the tenant to identify investment priorities in the property within the framework of their management strategy.

The investment has been performed through the set-up of a dedicated investment platform controlled by an Italian real estate multi-compartment Sicaf, entirely owned by Ardian and managed by Prelios SGR.

Ardian formally launched its Real Estate activity in Spain at the end of 2019, when it entered the market. This transaction fits perfectly with Ardian Real Estate’s vision and priorities, with the asset offering the fund great flexibility. The fund’s strategy relies on value creation and focuses on assets that require active management, to improve facilities, asset performance and ultimately support them in realizing their full potential.

Edmund Eggins, Director in the Ardian Real Estate team: “We are very pleased to announce our first investment in Spain. The building’s features and central location – align well with our strategy. The Spanish office investment market continues to be very attractive. Our work will continue to focus on applying sustainability to management and to meet the needs arising from the pandemic with the aim of creating workspaces that adapt to tenants’ current and future needs.”
Rodolfo Petrosino, Head of Southern Europe for Ardian Real Estate: “We are delighted to launch Ardian Real Estate’s Spanish investment activity with this acquisition. Spain is a key market for us, and we look forward to growing a portfolio of prime-located assets in Madrid and Barcelona.”

Ardian Real Estate is currently of a dedicated team of 34 professionals and a portfolio of over 2.0 billion euros and over 300,000 sqm across Paris, Milan, Rome, Frankfurt, Munich, Berlin, and now Madrid. With its first fund in 2018, the team completed the largest ever, first-time, real estate fundraising with over 700 million euros raised. This confirmed the continued support of investors in Ardian and a direct reflection of the attractiveness of this asset class. Following the ongoing success seen across France, Germany and Italy, the team has broadened its scope and is now investing in Spain.

LIST OF PARTICIPANTS

  • Ardian

    • Ardian was advised by: EY Abogados (legal & tax), EY Strategy & Transactions (commercial), Cuatrecasas and Chiomenti (tax and structuring), Metier Spain (technical) and HolArquitectura (architecture).

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$112bn managed or advised across Europe, the Americas and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base. Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world. Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 750 employees working from fifteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). It manages funds on behalf of more than 1,200 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.

Press contact

ARDIAN – Headland

GREGOR RIEMANN

griemann@headlandconsultancy.com +44 7920 8026 27

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Ardian Real Estate signs lease agreement with Forschungszentrum Jülich for 12,300 sqm and completes pre-leasing at its office complex “3 höfe work” in Berlin

12 July 2021Real Estate Germany, Frankfurt am Main/Berlin

Frankfurt am Main/Berlin, July 12, 2021 – Ardian, a world-leading private investment house, has signed a long-term lease agreement with Forschungszentrum Jülich for 12,300 sqm of rental space in the office building “3 höfe work” in Berlin’s Mitte (Lützowstrasse 107-112), which is currently under construction. With more than 6,400 employees, Forschungszentrum Jülich is one of the largest interdisciplinary research centers in Europe. Project Management Jülich, which develops and implements research and innovation funding programs on behalf of the Federal Republic of Germany and the federal states, will occupy the newly leased office space in Berlin. The lease agreement has a term of 15 years, and the research center is scheduled to move in in the first six months of 2022 after specifications to the office space have been made.

Upon signing the new lease agreement, the property which has a total rental space of more than 18,000 sqm is now fully pre-leased. In May 2020, the Ardian Real Estate team signed a long-term lease with Sanofi, the French multinational pharma company, which will move into an area of around 5,500 sqm in the fourth quarter of 2021. After completion of the property, the office complex will have seven stories and an underground car park with 52 parking spaces. The modern architecture offers plenty of space with flexibility when it comes to layout. Within walking distance of the underground station at Gleisdreieck, the property is also well-located for public transport.

Nico Rheims, Director at Ardian Real Estate, said: “We are very pleased that a second well-known tenant, Forschungszentrum Jülich, has been secured as a long-term tenant at 3 höfe work. We have now fully leased the property on a long-term basis several months prior to completion. The recent success confirms our strategy with a focus on high-quality and sustainable office buildings in prime locations across Europe.”

In addition to the attractive location at one of the most sought-after office sites in Berlin, the new construction project will be awarded a gold seal of quality by the German Sustainable Building Council (DGNB). The contractual provisions with Forschungszentrum Jülich constitute a “Green Lease,” which stipulates the sustainable use and management of the property.

Bernd Haggenmüller, Senior Managing Director at Ardian Real Estate, added: “As an active player throughout Europe, we see the growing importance of ESG both in our investments, and in the management of the properties in our portfolio. In our view, it was a logical step for us to join the ESG initiative ECORE. Buildings account for around one-third of CO2 emissions in Europe. Accordingly, the actions and work of real estate investors and portfolio holders are central to achieving the EU’s climate target for 2050. ECORE’s scoring methodology establishes an industry-wide standard to make sustainability in real estate portfolios transparent, measurable and comparable. This serves as a basis for continuous optimization towards CO2 neutrality and thus supports the goals of the Action Plan for Sustainable Finance for Financial Market Participants and the Paris Climate Agreement.”

ESG Circle of Real Estate (“ECORE”, www.ecore-scoring.com) was founded in February 2020 by Bell Management Consultants and well-known real estate portfolio managers.

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of more than US$112bn managed or advised in Europe, the Americas and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base. Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world. Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 750 employees working from fifteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). It manages funds on behalf of around 1,200 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.
Ardian on Twitter @Ardian

PRESS CONTACT

CHARLES BARKER CORPORATE COMMUNICATIONS

Peter Steiner

ardian@charlesbarker.de Tel: +49 69 79409027

Tobias Eberle

ardian@charlesbarker.de Tel: +49 69 79409024

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Ardian signs lease agreement with international law firm Allen & Overy, for “Renaissance Project”, Paris based office complex

Ardian

06 July 2021 Real Estate France, Paris

Paris, 6 July 2021 – Ardian, a world leading private investment house, today announces the formal signing of a lease with Allen & Overy for the historic building complex, known as the “Renaissance Project”. Ardian acquired the building site in May 2018 to redevelop and refurbish it.

Centrally located in the heart of Paris’ Golden Triangle, 32 rue François 1er the building complex was the former headquarters of Europe 1. It is currently being redeveloped and, on completion, will provide office space encompassing around 6,900 sq.m of office space and a further 2,300 sq.m of retail space.

The building is composed of private mansions on Rue François 1er and is connected to a newly constructed six-storey building. The project, designed by the architectural firm, CALQ, and decorator Tristan Auer, aims to combine the building’s rich heritage with modern needs, while ensuring environmental efficiency.

The building will envelop gardens, patios, and green terraces – with works scheduled for completion by the end of 2021.

By choosing this office complex for its future Paris office, the international business law firm Allen & Overy, member of the “Magic Circle”, will offer its Paris based employees a modular and resolutely modern working environment for the next 12 years. The space will enable collaboration among teams and provide an exceptional location for meetings with clients.

Stéphanie Bensimon, Head of Ardian Real Estate explains: “We are very proud to have concluded this agreement with the renowned law firm Allen & Overy. The Renaissance Project is an emblematic transaction of our AREEF I fund initiated in 2017, which invests in value-creating transactions. The signing of this lease prior to delivery demonstrates our team’s ability to completely transform obsolete assets into unique buildings – preserving their historical character yet designing them for the future.”

Sébastien Bégué, Director at Ardian Real Estate, commented: “This was an exceptional opportunity for us to design a building in the heart of the Golden Triangle – arguably the most attractive area for office location in the heart of the city. The complex is now largely newly constructed and offers a high degree of flexibility – which is much sought after for innovative offices. We also see the success of this agreement as further proof of the resilience of the Parisian high-end market. It proves our case, that, well-located, high-quality buildings continue to attract high-profile tenants looking to optimize workspace and attract talent.”

Hervé Ekué, Managing Partner of Allen & Overy in Paris, added: “This move is part of the firm’s dynamic growth and marks an important step in Allen & Overy’s development in France. We would like to thank the Ardian team for their flexibility and support in this. We are certain that these new premises will enable us to transform our office offering. Now, boasting more open and bright spaces, we expect that this space will enhance working conditions, encourage collaboration, and innovation, while contributing to the well-being of each individual. Our new address also expresses the firm’s desire to continue to offer its clients an exceptional place to meet.”

The signing of this BEFA follows the signings of long-term leases on the RIO and Great projects, also developed by Ardian Real Estate, in the central business district of Paris.

LIST OF PARTICIPANTS

  • Ardian

    • Ardian was advised by Linklaters, BNP, JLL AMO.

 

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of more than US$112bn managed in Europe, South America, North America and Asia. The company is majority-owned by its employees and generates sustainable, attractive returns for its investors.
Through its commitment to positive outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth. Ardian’s investment philosophy is aligned with the three guiding principles of excellence, loyalty and entrepreneurship.
Ardian maintains a global network with more than 700 employees and 15 offices in Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), South America (Santiago de Chile), North America (New York and San Francisco) and Asia (Beijing, Seoul, Singapore and Tokyo). It manages funds on behalf of more than 1,100 clients in five investment areas: Fund of Funds, Direct Funds, Funds of Funds, Infrastructure, Private Debt and Real Estate.
Follow Ardian on Twitter @Ardian

Press contacts

ARDIAN – Headland

GREGOR RIEMANN

griemann@headlandconsultancy.co.uk Tel: +44 7920 8026 27

 

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CapMan Real Estate sells office property in Oslo to SiO

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Capman

CapMan Real Estate Press Release
June 30, 2021 at 18:00 EET

CapMan Real Estate sells office property in Oslo to SiO

CapMan Nordic Real Estate Fund has agreed to sell St. Olavs gate 23, a 4,500 sqm vacant office building located in central Oslo, to the Norwegian student organisation SiO. The agreed property value is approximately NOK 290 million.

The historic property, originally constructed in 1900, was acquired by CapMan in June 2017 and was its first acquisition in Norway. The previously outdated office space has since then been stripped to its structure and prepared for a complete renovation which will reinstate the historical value of the property. A building permit has also been obtained, allowing for an extension of approximately 500 sqm into the rear courtyard.

“When we purchased this property in 2017, we were very much drawn towards the value-add opportunities we saw in this location. We could also see that the development of the adjacent new facilities for Oslo University at Tullinkvartalet would further strengthen the area itself as a cluster for higher education. The current high demand for modern properties and increased interest from organisations in the education and innovation sector makes the timing and result of this transaction optimal,” says Magnus Berglund, Investment Director at CapMan Real Estate.

“We are very pleased with the sale to SiO and their plans for long-term establishment in the property, which will contribute greatly to the entire area and provide a fantastic opportunity for the students in Oslo,” says Andreas Wang, Investment Director at CapMan Real Estate.

Akershus Eiendom and CLP assisted CapMan Real Estate on the sale.

St. Olavs gate 23 is the 15th exit of the 2013 vintage value-add fund, CapMan Nordic Real Estate I, which has seven assets left in the portfolio. The team’s third Nordic value-add fund, CapMan Nordic Real Estate III, was established in September 2020 and has completed its final close with equity of EUR 564 million, exceeding its target size of EUR 500 million and reaching its hard cap.

CapMan Real Estate currently manages a total of EUR 3.6 billion in real estate assets. The Real Estate Team comprises over 40 real estate professionals in Helsinki, Stockholm, Copenhagen, Oslo and London. The team was awarded UK & European Opportunistic Property Manager of the Year at the 2020 Professional Pensions Investment Awards.

For further information, please contact:

Magnus Berglund, Investment Director, CapMan Real Estate, tel. +46 70 786 68 08

Andreas Wang, Investment Director, CapMan Real Estate, tel. +47 932 28 700

 

About CapMan

CapMan is a leading Nordic private asset expert with an active approach to value creation. We offer a wide selection of investment products and services. As one of the Nordic private equity pioneers, we have developed hundreds of companies and real estate assets and created substantial value in these businesses and assets over the past 30 years. Our objective is to provide attractive returns and innovative solutions to investors. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover Private Equity, Real Estate and Infra. We also have a growing service business that includes procurement services, wealth management, and analysis, reporting and back office services. Altogether, CapMan employs around 150 people in Helsinki, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are a public company listed on Nasdaq Helsinki since 2001 and a signatory of the UN Principles for Responsible Investment (PRI) since 2012. Read more at www.capman.com.

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CapMan holds a €300 million first close for a Nordic open-ended residential real estate fund and simultaneously signs a portfolio acquisition in Helsinki in excess of €500 million

Capman

CapMan Real Estate press release
17 June 2021 at 12.00 noon EEST

CapMan holds a €300 million first close for a Nordic open-ended residential real estate fund and simultaneously signs a portfolio acquisition in Helsinki in excess of €500 million

CapMan Real Estate has established a Nordic core residential fund (“Fund”) with over €300 million in initial commitments from international investors. The Fund has an open-ended structure and is targeting €1.0 billion of equity by 2023.

The new Fund enables CapMan Real Estate to continue its highly successful and extensive residential business in the Nordics, where it has acquired approximately €2.2 billion of residential properties since 2014.

“There is tremendous investor demand for a product that invests exclusively in rental residential properties with a Nordic mandate. We know this market very well and have good relationships with property owners and developers and believe that an active and local value-add management approach can add significantly to the core return profile”, says Mika Matikainen, Managing Partner and Head of CapMan Real Estate.

“Our vast experience and track record in the Nordic residential sector should enable us to significantly grow the Fund over the coming years, and we already have a substantial pipeline of new investment opportunities”, comments Torsten Bjerregaard, Managing Partner, CapMan Real Estate.

First investment for the Fund

Simultaneously with the first closing, the Fund has signed an agreement to acquire a seed portfolio consisting of 29 modern rental residential properties with 1,854 middle-income apartments with a combined 88,279 m2 net leasable area in Helsinki Metropolitan Area and surrounding commuter towns from ICECAPITAL. The properties have been built between 2016 and 2021 and are in very good condition requiring minimal capex investments over the next 10 years.

“The properties are attractively located in growth centres in and around the Helsinki Metropolitan Area with good access to commuter connections. The relatively small unit sizes of the portfolio are consistent with the ongoing demographic trends that support a growing number of smaller households and preference to rent instead of owning a home,” says Juhani Erke, Head of CapMan Real Estate Finland.

CapMan’s Real Estate team comprises over 40 real estate professionals in Helsinki, Stockholm, Copenhagen, Oslo and London. CapMan Real Estate currently manages a total of €3.6 billion in real estate assets.

For additional information, please contact:

Mika Matikainen, Managing Partner, CapMan Real Estate, tel. +358 40 519 0707

Torsten Bjerregaard, Managing Partner, CapMan Real Estate, tel. +44 7715 772 554

About CapMan

CapMan is a leading Nordic private asset expert with an active approach to value creation. We offer a wide selection of investment products and services. As one of the Nordic private equity pioneers, we have developed hundreds of companies and real estate assets and created substantial value in these businesses and assets over the past 30 years. Our objective is to provide attractive returns and innovative solutions to investors. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover Private Equity, Real Estate and Infra. We also have a growing service business that includes procurement services, wealth management, and analysis, reporting and back office services. Altogether, CapMan employs around 150 people in Helsinki, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are a public company listed on Nasdaq Helsinki since 2001 and a signatory of the UN Principles for Responsible Investment (PRI) since 2012. Read more at www.capman.com.

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ICG announces the acquisition of Australian real estate debt investor Newground Capital Partners

ntermediate Capital Group (ICG), the global alternative asset manager, announces it has acquired Newground Capital Partners (Newground) an Australian real estate debt investor.

Newground is an arranger, investor, and manager of real estate financing solutions in the Australian mid-market, investing across the capital structure, with offices in Brisbane, Sydney, and Melbourne. The team of seven led by Daniel Erez has closed 30+ transactions, deployed more than A$200m of capital and currently manages investments on behalf of over 100 clients, largely Australian-based.

Trading as ICG-Newground, the business will leverage the strength of ICG’s balance sheet and its institutional LP base to underwrite loans of $30m – $200m offering more flexible terms and gearing to owners of value-add, stabilised and construction assets. The business will launch an institutionally focused fund in Q3 of this year to capitalise on the growing interest in real estate debt amongst Australian investors.

Commenting on the transaction, Martin Wheeler, Co-Head of ICG’s real estate business, said “We are excited about the acquisition of Newground, which is a further positive step in the growth of ICG’s real estate strategy and footprint in Australia. We are looking forward to working with such an entrepreneurial management team to realise the attractive opportunities in the Australian real estate market.”

Martin added “Dan and the Newground team share our investment philosophy and the deal builds upon our track record of hiring and retaining the best talent and helping them develop and grow a leading franchise.”

Daniel Erez who joins as Head of Real Estate Australia and New Zealand said, “The Newground team is delighted to be joining ICG. We are looking forward to combining our deep experience of investing in Australian real estate, and benefitting from ICG’s breadth of, experience, rigorous investment culture and its institutional investment management infrastructure”.

Greg Fendler, Managing Director and Head of Institutional Clients, Australia and New Zealand said, “The acquisition of Newground is a natural extension of ICG’s differentiated real estate platform and enhances our offering to local clients and potential investors. It’s been a pleasure to work with Dan and Martin on this transaction and I look forward to building a successful real estate business in Australia and New Zealand together.”

-Ends-

 

For further details please contact:

Olivia Montgomery

Corporate Communications
Tel: +44 (0)203 545 1543
Mobile: +44 (0)7812 045188
Email: olivia.montgomery@icgam.com

About ICG

ICG provides capital to help companies grow. We are a global alternative asset manager with over 30 years’ history, managing €47.2bn of assets in private debt, credit, and equity, principally in closed-end funds.

We develop long-term relationships with our business partners to deliver value for shareholders, clients, and employees, and use our position of influence to benefit the environment and society. We operate across four strategic asset classes: corporate, capital market, real asset, and secondary investments. In addition to growing existing strategies, we innovate and pioneer new strategies where the market opportunity exists.

ICG’s real estate division has over €4.9bn of private debt and private equity assets under management in its core strategies of Senior Debt, Partnership Capital (providing whole loans, mezzanine, and preferred equity), Residential Development Finance and Sale and Leaseback.

ICG is listed on the London Stock Exchange (ticker symbol: ICP).

Further details are available at: www.icgam.com. You can follow ICG on LinkedIn.

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KKR and TIGA Investments to Acquire The Executive Centre

KKR

Investment to enhance TEC’s position as one of the leading premium flexible workspace providers across the fast-growing economies of Asia Pacific and the Middle East, with more than 32,000 members in 32 cities

HONG KONG & SINGAPORE–(BUSINESS WIRE)– The Executive Centre (“TEC” or the “Company”), KKR and TIGA Investments today announced the signing of definitive agreements under which a consortium led by KKR and TIGA Investments will acquire TEC.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210531005344/en/

The Executive Centre is the leading provider of premium flexible office space solutions in markets including Greater China, North Asia, Southeast Asia, Australia, India, Sri Lanka, and the Middle East. The Company has expanded rapidly across Asia Pacific since it was founded in 1994, fueled by steady demand for premium workspace in prime, central locations from its client base of leading MNCs. It now serves more than 32,000 members across over 150 centers in 32 cities and 14 markets, including Greater China, Japan, South Korea, Southeast Asia, Australia, India, Sri Lanka, and the Middle East, with an annual turnover in excess of US$237 million. The Executive Centre’s offerings include high-quality enterprise solutions, premium private offices, coworking and virtual spaces, each equipped with meeting & event facilities, and a broad range of full IT support and corporate concierge services.

As part of the transaction, funds advised by HPEF Capital Partners and CVC Capital Partners will exit their investments in the Company. Members of TEC’s management team will continue to own shares in the Company.

Paul Salnikow, founder and CEO of The Executive Centre stated, “We are pleased to welcome KKR and TIGA Investments to The Executive Centre as our new investors. It’s a powerful partnership, well matched to drive the continued performance and growth of TEC. I also extend a big thank you to HPEF Capital Partners and CVC Capital Partners for their investment tenure, during which we increased the size of the business, sevenfold.”

SJ Lim, a Managing Director at KKR, added, “As we look ahead to the market’s evolving needs, flexibility will be key in companies’ future workplace strategies. We believe The Executive Centre is well placed to capture new growth opportunities and build on its longstanding leadership position in Asia’s premium workspace segment. KKR is excited to support The Executive Centre, Paul and his team at this exciting time for the market.”

“We are thrilled to invest in the growth of The Executive Centre alongside KKR,” said G. Raymond Zage III, Founder of TIGA. “As the future of work increasingly shifts towards a hybrid model, we look forward to partnering with Paul and his team and helping to elevate the company to its next phase of growth for the benefit of businesses, tenants and landlords across the region.”

KKR makes its investment through its investment funds. Additional details of the transaction were not disclosed.

About The Executive Centre

The Executive Centre (TEC) was founded by Paul Salnikow, in 1994 in Hong Kong and today serves over 32,000 members daily across 150+ centres in 32 cities and 14 markets. TEC is Asia’s third largest flexible office space with annual turnover in excess of US$237 million.

The Executive Centre caters to ambitious professionals and industry leaders looking for more than just an office space – they are looking for a place for their organization to thrive. TEC has cultivated an environment designed for success with a global network spanning Greater China, Southeast Asia, North Asia, India, Sri Lanka, the Middle East, and Australia, with sights to go further and grow faster. Each Executive Centre offers a prestigious address with the advanced infrastructure to pre-empt, meet, and exceed the needs of its Members. Walking with Members through every milestone and achievement, The Executive Centre empowers ambitious professionals and organizations to succeed.

Privately owned and headquartered in Hong Kong, TEC provides first class Private and Shared Workspaces, Business Concierge Services, and Meeting & Conference facilities to suit any business’ needs.

For more information please contact Pebble_Lee@ExecutiveCentre.com or visit www.executivecentre.com

About KKR

KKR is a leading global investment firm that offers alternative asset management and capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of The Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

About TIGA Investments

TIGA Investments (TIGA) is a Singapore based company focused on making long-term investments in differentiated businesses with strong management teams. TIGA brings its deep global relationships, extensive industry expertise and agility in decision making to help businesses achieve their maximum potential. TIGA is also the sponsor of TIGA Acquisition Corp, an NYSE listed special purpose acquisition company. TIGA is led by G. Raymond Zage, III and Ashish Gupta, who have more than 46 years of combined investment experience.

Media:
For The Executive Centre
Chelsea Perino
+852 9103 7236
Chelsea_perino@executivecentre.com

For KKR
KKR Asia Pacific
Anita Davis
+852 3602 7335
Anita.Davis@kkr.com

For KKR Americas
Cara Major or Miles Radcliffe-Trenner
+1 212-750-8300
Media@kkr.com

For TIGA Investments
Diana Luo
dluo@tigainvestments.com

Source: KKR

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EQT Exeter and Grupo Moraval form EUR 500m joint venture to deliver portfolio of purpose-built student accommodation assets in Spain

eqt
  • EQT Exeter, the global real estate solutions provider, and Group Moraval, a leading Spanish developer, have formed a joint venture to create a portfolio of high-quality, sustainable and affordable student accommodation facilities in Spain
  • The joint venture has already secured two initial sites in Seville and Málaga comprising approximately 1,500 beds and is actively working on a strong pipeline of future opportunities
  • The joint venture constitutes EQT Exeter’s first investment in Spain and combines its ‘business to consumer’ strategy, which is focused on taking advantage of demographic changes occurring across Europe, and its social impact approach to value creation

EQT Exeter is pleased to announce that the EQT Real Estate II fund (“EQT Exeter”) has launched a joint venture (the “JV”) with Grupo Moraval (“Grupo Moraval”), a leading Spanish developer with an approximate 30 percent market share of the “purpose-built student accommodation” (“PBSA”) facilities that have been or are currently being developed in Spain between 2020 and 2022. The JV is expected to have an initial capacity to establish an investment portfolio valued at over EUR 300 million and has aspirations to ultimately grow the portfolio to a value in excess of EUR 500 million.

The student housing market in Spain has experienced rapid growth due to favorable demographic trends such as a steadily growing population of 18-24-year-olds and an increase of young people pursuing higher education. Despite this, many of the country’s university cities suffer from a lack of high-quality student housing with large groups of young people in need of accommodation. The population of people within this age group has increased consistently since the 2015/2016 academic year at a compound annual growth rate of 5.7 percent1.

The JV will focus on delivering a portfolio of PBSA facilities in Spanish cities with growing student housing demand and a relatively low percentage of the respective city’s students who can be accommodated under currently available student housing, also referred to as the provision rate. An example of this is Málaga, where the educational offering is expected to grow even further as the municipality recently offered public land for the establishment of two new universities. Through Grupo Moraval’s in-house market intelligence platform that analyzes the need for student accommodation in university cities across Spain together with EQT’s digitization team, the JV expects it will be able to identify important market trends and future housing demand in an efficient and concise fashion.

The JV’s two initial sites in Seville and Málaga comprise approximately 1,150 and 350 beds, respectively. Located next to two of University of Sevilla’s largest campuses, Pirotecnia and Ramón y Cajal, the Seville site is also within walking distance to the main faculties and the city center and next to the San Bernardo public transportation hub. The Málaga site will be located in the University of Málaga Teatinos campus and is within walking distance to the main faculties and to the public transportation hub which provides easy access to the city center. Construction of the Seville site has already commenced and is expected to be finished by the beginning of the 2022/2023 academic year while the Málaga site is currently anticipated to be delivered by the beginning of the 2024/2025 academic year.

The JV’s assets will be let at market-rate rents under the newly created “Nodis” brand. Nodis expects to embody strong values of dynamism, vitality and safety in its operations. As such, the residences will be equipped with state-of-the-art facilities, high-quality amenities and premium services including but not limited to gyms, private lounges, living and gaming areas, libraries, work and study spaces, cinemas, parking, free high-speed internet and rooftop terraces.

Consistent with other EQT Exeter transactions, the JV’s assets will be developed with strong sustainability credentials and seek to achieve green certifications such as LEED (Leadership in Energy and Environmental Design) and GRESB (Global ESG Benchmark for Real Assets). The buildings will promote sustainable living practices and utilize photovoltaic panels on the roof, provide electric vehicle charging stations and spaces for carpool vehicles, use native or adapted plants which don’t require a permanent irrigation system and employ high efficiency- low consumption fixtures and fittings.

Carlos Molero, Managing Director, Investment Advisor to EQT Exeter, said, “We are excited to enter the Spanish student housing market alongside market leader Grupo Moraval. This joint venture is an excellent example of EQT Exeter’s ‘local with locals’ approach of sourcing attractive opportunities and investing in thematic trends which are decoupled from the financial cycle. We see a clear opportunity to deliver a portfolio of high social impact, purpose-built student accommodation in Spanish cities which are experiencing a supply-demand imbalance. In addition to the joint venture’s initial sites in Seville and Málaga, we are evaluating a growing pipeline of projects to build a large-scale, resilient and downside-protected portfolio.”

Rob Rackind, Partner and Investment Advisor to EQT Exeter, said, “This joint venture with Grupo Moraval marks a landmark entrance into Spain for EQT Exeter. It is an example of our ‘business to consumer’ efforts which are focused on taking advantage of the demographic transformations that are occurring across Europe. This strategy is manifesting itself through the delivery of over 8,000 beds across Europe over the next few years via a number of additional platforms that we have established. These include the delivery of a GBP 1bn+ private rented residential portfolio in Greater London, a EUR 400m+ mobility-impaired rental housing portfolio across France and a EUR 300m senior care portfolio in Northern Italy, all of which are expected to benefit from continued favorable supply-demand dynamics, urbanization and population growth.”

Alvaro Soto, CEO of Grupo Moraval, said, “Grupo Moraval is delighted to partner with EQT Exeter, which is well-known for its hands-on value creation strategies, in this ambitious project. Together, we will aim to further advance the purpose-built student housing offering in one of the most dynamic and fastest-growing higher education markets in Europe. Students both nationally and internationally are increasingly seeking tailored, cost-efficient housing options and EQT Exeter and Moraval share the same vision on how to build and manage sustainable and digitally innovative accommodation for this segment.”

Berta Guillamón, Chief Marketing Officer of Nodis, said, “Nodis student residences will be aligned with today’s youth: dynamic, vibrant and with a spirit of self-improvement. With a team experienced in managing accommodation for students, Nodis creates spaces to live, learn and create new connections in an enriching and creative environment with sustainability at its core.”

1Source: JLL, “Student Housing: From Consolidation to Institutionalization” (2020).

Contacts
EQT Exeter media enquiries:
UK: Greenbrook, eqt@greenbrookpr.com, +44 20 7952 2000
Spain: Grupo Albion, Maribel Alonso, malonso@grupoalbion.net, +34 91 531 23 88
EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

Grupo Moraval media enquiries:
Christopher Bjork, christopher.bjork@bjork-brown.com, +34 60 639 60 93

About EQT
EQT is a purpose-driven global investment organization with more than EUR 67 billion in assets under management across 26 active funds. EQT funds have portfolio companies in Europe, Asia-Pacific and the Americas with total sales of approximately EUR 29 billion and more than 175,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More info: www.eqtgroup.com
Follow EQT on LinkedIn, Twitter, YouTube and Instagram

About EQT Exeter
EQT Exeter, a part of EQT, is a global real estate solutions provider serving both consumer and tenants with scope and scale. EQT Exeter is among the largest real estate investment managers in the world and is focused on acquiring, developing and managing logistics / industrial, office, life science and residential properties in Europe, the Americas and Asia. EQT Exeter was created through the combination of EQT Real Estate and Exeter Property Group.

The EQT Exeter Team comprises around 260 experienced professionals, including investment and leasing officers, asset managers and operational professionals, operating in close to 40 regional offices around the globe. Collectively they have consummated over 830 real estate investments. As part of EQT, the team has access to the full EQT Network including more than 500 industry advisors across the globe as well as the EQT’s industry-leading sustainability credentials and framework, and in-house digitalization skills.

About Grupo Moraval
Grupo Moraval is the leading developer of student residences in Spain with a portfolio of around 6,600 beds representing investment volume of EUR 300 million and located in Madrid, Barcelona, Málaga, Bilbao, San Sebastian, Pamplona, Salamanca, Seville and Zaragoza. It pioneered new models of accommodation for students and co-living spaces over the past decade together with leading institutional and private wealth investors. With a track record of over 400,000 sqm developed in real assets of different kinds, Grupo Moraval specializes in the design and execution of state-of-the-art accommodation focusing on new technologies and student welfare. Committed to continuous improvement, its developments introduce innovations in areas such as sustainability and digitalization.

About Nodis
Nodis is a newly created brand which embodies the strong values of dynamism, vitality and sustainability, allowing its residents to lead the lifestyle they are looking for and offering residences with state-of-the-art facilities in a completely safe environment: fully equipped studios, common areas cared for down to the last detail, gym, private lounges, living areas, gaming area, library, work and study spaces, cinema, parking and more.

More info: www.nodis.es


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